Fees on layer 2s, designed to scale the Ethereum network, also surged, with transactions costing as much as $1 on Arbitrum, the highest since 2022, the report said. This issue has a quick fix though with the Dencun upgrade coming up next week, which is expected to lower transaction costs on layer 2s to cents.
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- Source: https://www.coindesk.com/markets/2024/03/08/meme-coin-frenzy-drives-ethereum-network-fees-to-nearly-2-year-high-intotheblock/?utm_medium=referral&utm_source=rss&utm_campaign=headlines